Automobile Logistics Market transformation is driven by the surge in EV production, globalization of supply chains, & adoption of advanced digital technologies

AUSTIN, TX, UNITED STATES, December 5, 2024 /EINPresswire.com/ --

Automobile Logistics Market

The Automobile Logistics Market was valued at USD 298.30 billion in 2023 and is projected to grow at a CAGR of 7.5%, reaching USD 569.53 billion by 2032.

Global Supply Chain Complexity and Green Logistics Solutions Drive Automobile Logistics Market Expansion

The Automobile Logistics Market growth is being driven by the global automobile production and rising complexity of supply chain operations. Governments across the world are encouraging infrastructure improvement and sustainability through a series of regulations to reduce carbon emissions, forcing the rapid adoption of green logistics solutions such as EVs and renewable energy.

Emerging technologies are radically changing the logistics operations. There is automation, real-time tracking, and online platforms like SeaRates.com and LandRates.com in cargo management to achieve efficient global transportation. DP World's Digital Freight Alliance further joins up freight forwarders, giving a better access to higher-end equipment and services.

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Key Players Listed in Automobile Logistics Market Are:

• DHL Supply Chain
• XPO Logistics
• DB Schenker
• Kuehne + Nagel
• Nippon Express
• CEVA Logistics
• Agility Logistics
• UPS Supply Chain Solutions
• Ryder System Inc.
• BLG Logistics
• Penske Logistics
• GEFCO Group
• Hitachi Transport System
• FedEx Supply Chain
• AIT Worldwide Logistics
• Yusen Logistics
• Expeditors International
• Panalpina
• Hellmann Worldwide Logistics
• Kerry Logistics.

Surge in EV Adoption and Warehouse Automation Propels Growth of the Automobile Logistics Market

Warehouse automation and AI-driven logistics solutions are reducing mistakes, saving labor costs, and optimizing delivery routes. Customized logistics is finding a market due to the shift toward EVs, as well as the logistics requirements for batteries and other components of such vehicles. The growing aftermarket in e-commerce only adds to the urge for efficient distribution solutions. Electric trucks and renewable energy in warehouses, once things gain traction, stand to witness large growth.

Combined with the push for EVs, there has been a surge in demand for customized logistics systems that handle heavier and more hazardous components, such as batteries. EV manufacturers are revisiting logistics strategies to ensure safe transportation. Additionally, the deployment of incentives for EV adoption globally, especially in Asia-Pacific and Europe, has catalyzed demand for tailor-fit logistics solutions to help address the specific challenges associated with the production and distribution of EVs.

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Automobile Logistics Market Segment Analysis

BY ACTIVITY

Transportation led the Automobile Logistics Market with 78% market share in 2023, which was driven by the core movement of automotive parts and vehicles. Roadways are currently the preferred mode for cost-effectiveness and flexibility, while maritime, air, and rail are essential for long-distance and international shipments.

Warehousing is expected to grow at the fastest CAGR of 10.1% from 2024 to 2032. The rise in the need for sophisticated warehousing solutions, including real-time tracking and automation, is driving growth. The growth of Third-Party Logistics (3PLs) further increases the demand for spare parts and vehicle components warehousing.

BY TYPE

Comprises Automobile parts accounting for a market share of 72% in 2023, driven by the e-commerce growth and the flourishing of the automotive aftermarket. As a corollary, smooth part flow between manufacturing and assembly facilities ensure very effective logistic operations.

Finished Vehicles are projected to grow at a CAGR of 9.3%, fueled by the rising demand for EVs and increasing vehicle sales in emerging economies. Innovative transportation solutions are vital for delivering finished vehicles to global dealerships efficiently.

Automobile Logistics Market Key Segmentation:

By Activity

• Warehousing
• Transportation
• Roadways
• Airways
• Maritime
• Railways

By Type

Finished Vehicle
Automobile Parts
By Distribution

• Domestic
• International

By Solution

• Inbound
• Outbound
• Reverse
• Aftermarket logistics

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Regional Analysis:

Asia-Pacific held 47% of the market in 2023, primarily led by its huge automobile manufacturing base across China, Japan, and South Korea. Significant large-scale production of EVs and exports throughout the region require efficient solutions for logistics.

North America is expected to experience the fastest growth at a CAGR of 9.1%. This growth in the region can be attributed to advancements in logistics technologies, higher adoption of EVs, and growing vehicle production. Regional growth is also accelerated by better warehouse and transportation solutions.

Recent Developments

April 2024: Penske Truck Leasing launched "Catalyst AI," an AI-powered analytics platform to help shippers benchmark the performance of fleets. The tool draws insights from a set of more than 442,000 vehicles, maximizing the efficiency of logistics activities.

February 2024: Ryder System extended its operations with the opening of a warehouse in Laredo, Texas, and a drayage yard in Nuevo Laredo, Mexico. This is to increase cross-border freight capabilities.

Table Of Contents

1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Automobile Logistics Market Segmentation, By Activity
8. Automobile Logistics Market Segmentation, by Type
9. Automobile Logistics Market Segmentation, By Distribution
10. Automobile Logistics Market Segmentation, By Solution
11. Regional Analysis
12. Company Profiles
13. Use Case and Best Practices
14. Conclusion

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